Bitcoin Mixing Services

Bitcoin is often thought of as a payment system which hides both the sender and the receiver, and makes it impossible to recognize the consumer behind the screen. But, Bitcoin isn’t anonymous. The consumer behind an address may be revealed over the course of a transaction[1]. Therefore, it’s the consumer’s responsibility to safeguard their individuality whilst trading inside the Bitcoin network. There are a range of methods and methods to guard your privacy[2], however, the truth nevertheless remains — Bitcoin transactions aren’t private.

bitcoin mixer services have been in existence for nearly as long since Bitcoin itself. These services use the Bitcoin system in a smart way, which makes it rather hard to deduce any information in the Blockchain, whereas the database keeps a list of those transactions.

The idea is simple: combine 1 consumer’s money with different people’s Bitcoins, thus obfuscating the path back to the capital’ original source. In conventional financial systems, it is equal to transferring funds via a string of bank accounts. When you combine Bitcoins, you send your money into (and put your confidence with) a mixing service, which sends you a second individual’s Bitcoins via a set of transactions. [3]Therefore, if somebody attempts to monitor your action through the Blockchain, then they need to sort through thousands, even millions, of transactions.

Each transaction contributes to more Bitcoin accounts which function as a relay for your mixing service, passing funds through them on their way into the closing designated address. Most of all, the money that wind up there are untainted and don’t have any link to the initial address they came out.


Leave a Reply

Your email address will not be published. Required fields are marked *